North Carolina Home Insurance Rate Increase Request

19 Nov

North Carolina Insurance Commissioner Mike Causey recently announced that the North Carolina Rate Bureau (NCRB) has requested a 24.5% statewide average increase in homeowners’ insurance rates which will take effect in August 2021. 

The NCRB is an industry group that represents insurance companies that write insurance policies in North Carolina, it is not a part of or affiliated with the North Carolina Department of Insurance (NCDOI).

The NCDOI will review the request and can either agree to the rate increase or negotiate a lower rate increase with the NCRB. If the two cannot reach an agreement within 50 days, the insurance commissioner will call a hearing about the rate increases. 

It is likely that the two entities will reach a settlement at a lower number. In December 2018, the NCRB requested an average increase of 17.4 percent across the state but settled for a 4 percent rate increase after negotiations with Mr. Causey, a 13.4 percent decline. 

Insurers are claiming that North Carolina has been experiencing increased wind and hail losses this year due to more damaging storms. 

Rate Increases by County

The following is the rate increase requested by county:

The rate increase request in the following counties is 25 percent:

110 Beach areas in Currituck, Dare and Hyde Counties

120 Beach areas in Brunswick, Carteret, New Hanover, Onslow and Pender Counties 

130 Coastal areas in Currituck, Dare, Hyde and Pamlico Counties

140 Eastern Coastal areas of Brunswick, Carteret, New Hanover, Onslow & Pender 

Eastern Coastal area zip codes: 28403, 28405, 28406, 28407, 28408, 28409, 28410, 28411, 28412, 28422, 28428, 28443, 28445, 28459, 28460, 28461, 28462, 28467, 28468, 28469, 28470, 28480, 28511, 28516, 28520, 28524, 28528, 28531, 28532, 28533, 28539, 28553, 28557, 28570, 28577, 28579, 28581, 28584, 28589

160 Western Coastal areas of Brunswick, Carteret, New Hanover, Onslow & Pender 

Western Coastal area zip codes: 28401, 28402, 28420, 28421, 28425, 28429, 28435, 28436, 28447, 28448, 28451, 28452, 28454, 28456, 28457, 28466, 28478, 28479, 28518, 28521, 28540, 28541, 28542, 28543, 28544, 28545, 28546, 28547, 28555, 28574, 28582

170 Gates and Hertford Counties 25.0%

180 Bertie, Greene, Martin, Pitt, and Wayne Counties 25.0%

190 Duplin and Lenoir Counties 25.0%

200 Columbus County 25.0%

210 Edgecombe and Wilson Counties 25.0%

220 Cumberland County 25.0%

220 Sampson County 25.0%

230 Bladen and Robeson Counties 25.0%

240 Franklin, Halifax, Johnston, Nash, and Northampton Counties

The requested rate increase is 15 percent in the following counties:

150 Coastal areas in Beaufort, Camden, Chowan, Craven, Jones, Pasquotank, Perquimans, Tyrrell & Washington Counties

The NCRB is requesting a 25 percent increase for the majority of counties in North Carolina this year while in the past they have usually proposed higher rate increases for coastal areas while keeping the rate increase lower for inland counties. 

A public comment period is required by law to give the public time to address the rate bureau’s proposed rate increase.  There are four ways to provide comments according to the NCDOI website:

  • A public comment forum will be held to listen to public input on the NCRB’s rate increase request at the NCDOI’s second floor hearing room Thursday, Dec. 10 from 10 a.m. to 3 p.m.  The NCDOI is located in the Albemarle Building, 325 N. Salisbury St., Raleigh, NC 27603. Proper COVID-19 safety protocols will be enforced.
  • A virtual public comment forum will be held simultaneously with the in-person forum Dec. 10 from 10 a.m. to 3 p.m.  The link to this virtual forum will be:
  • Emailed public comments should be sent by Dec. 10 to
  • Written public comments should be mailed to Abby Spann, paralegal III, to be received by Dec. 10 and addressed to 1201 Mail Service Center, Raleigh, NC 27699-1201.

All public comments will be shared with the N.C. Rate Bureau. 

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